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Financial Accounting for Local and State School Systems, 2003 Edition



Account Classification Description
Quick Code Finder by Number/Category
Code Descriptions in Alphabetical Order

Table of Contents
Introduction
Uses of Information
Budgeting
Governmental  Accounting
Financial Accounting
Cost Accounting and Reporting for Educational Programs
Activity Fund Guidelines
Summary of Account Code Changes and other Appendices
PDF File (1044 KB)

Contact:
Frank Johnson
(202) 502-7362



Appendix A:  Summary of Account Code Changes

Fund Classification Program Classification
Balance Sheet Accounts Expenditure Function Classifications
Revenue and Other Fund Sources Object Classification

Fund Classification
1990 Code New Code Description
  5 Permanent Funds
5 6 Enterprise Funds
6 7 Internal Service Funds
7   Trust and Agency Funds were broken into 2 codes: 8 Trust Funds and 9 Agency Funds.
8   General Fixed Assets was deleted.
  8 Trust Funds was added.
9   General Long-Term Debt was deleted.
  9 Agency Funds was added.
 
Balance Sheet Accounts
1990 Code New Code Description
112 112 Unamortized Premiums on Investments is now restricted to short-term investments (originally restricted to long-term investments).
113 113 Unamortized Discounts on Investments (Credit) is now restricted to short-term investments (originally restricted to long-term investments).
115 115 Accrued Interest on Investments Purchased (Instructions for account entry were deleted.)
122 122 Allowance for Uncollectible Taxes (Credit) (Title was changed from "Estimated Uncollectible Taxes" [Credit].)
161   Bond Proceeds Receivable was deleted.
  192 Deferred Expenditures/Expenses was added.
  193 Capitalized Bond and Other Debt Issuance Costs was added.
  194 Premium and Discount on Issuance of Bonds was added.
200 200 Fixed Assets was changed to Capital Assets.
211 211 Sites was changed to Land and Land Improvements, and the description was modified.
222 222 Accumulated Depreciation on Site Improvements was modified. The last sentence, "The recording of depreciation is optional?," was deleted.
232 232 Accumulated Depreciation Buildings and Building Improvements was modified. The last sentence, "The recording of depreciation is optional?," was deleted.
251 271 Construction in Progress
  251 Works of Art and Historical Treasures was added.
  252 Accumulated Depreciation on Works of Art and Historical Collections was added.
  261 Infrastructure was added.
  262 Accumulated Depreciation on Infrastructure was added
  271 Construction in Progress was added.
300   All 300 level account codes, Budgeting Accounts and Other Debits, were deleted.
400 400 Liabilities, Reserves, and Fund Balance was changed to Liabilities and Equity.
442 442 Bonds Payable was changed to Bonds Payable-Current.
  452 Lease Obligations-Current
  472 Compensated Absences-Current
  473 Accrued Annual Requirement Contribution Liability
492   Due to Fiscal Agent was deleted
  512 Accreted Interest was added.
  513 Unamortized Losses on Debt Refundings was added.
531 531 Lease Obligations was changed to Capital Lease Obligations.
541   Unfunded Pension Liabilities was deleted.
  551 Compensated Absences was added.
  561 Arbitrage Rebate Liability was added.
590 590 Other Long-Term Liabilities was modified.
600   All 600 level Budgeting Accounts were deleted.
711   Investment in General Fixed Assets was deleted.
  720 Designated Fund Balance was added.
730   Reserved-Related Earnings was deleted.
740   Unreserved-Retained Earnings was deleted.
  740 Invested in Capital Assets, Net of Related Debt was added.
  750 Restricted Net Assets was added.
751 711 Reserve for Inventories
752 712 Reserve for Prepaid Items was recoded 712 and the name was changed from Reserve for Prepaid Expenses.
753 713 Reserve for Encumbrances
760 714 Other Reserved-Fund Balance was recoded 714 and the name was changed from Reserved-Fund Balance
  760 Unrestricted Net Assets was added.
770 730 Unreserved-Fund Balance
 
Revenue and Other Fund Sources
1990 Code New Code Description
1320   Tuition From Other School Districts Within the State was broken into codes 1320 and 1321.
  1320 Tuition From Other School Districts Within the State was Changed to Tuition From Other Government Sources Within the State.
  1321 Tuition From Other School Districts Within the State was added.
1330   Tuition From Other School Districts Outside the State was broken into codes 1330 and 1331.
  1330 Tuition From Other School Districts Outside the State was changed to Tuition From Other Government Sources Outside the State.
  1331 Tuition From School Districts Outside the State was added.
1340   Tuition From Other Sources was replaced with codes 1340 and 1350 (below).
  1340 Tuition From Other Private Sources (other than individuals) was added.
  1350 Tuition From the State/Other School Districts for Student Voucher Programs was added.
1420   Transportation Fees From Other School Districts Within the State was broken into codes 1420 and 1421.
  1420 Transportation Fees From Other Government Sources Within the State was expanded.
  1421 Transportation Fees From Other School Districts Within the State was added.
1430   Transportation Fees From Other School Districts Outside the State was broken into codes 1430 and 1431.
  1430 Transportation Fees From Other Government Sources Outside the State was expanded.
  1431 Transportation Fees From Other School Districts Outside the State was added.
1510 1510 Interest on Investments was modified to include interest on short-term investments only.
1530 1530 Gains or Losses on Sale of Investments was modified to include gains and losses in the fair value of investments and broken into codes 1531 and 1532.
  1531 Realized Gains (Losses) on Investments (from the sale of investments) was added.
  1532 Unrealized Gains (Losses) on Investments (from recognized change in value of investments) was added.
  1614 Food Service-Daily Sales-After School Programs was added.
  1650 Food Service-Daily Sales-Summer Food Programs was added.
1700 1700 Student Activities was modified to include only those revenues under the control of school or district personnel and was renamed District Activities.
  1750 Revenue From Enterprise Activities was added.
  1790 Other Activity Income was added.
1920 1920 Contributions and Donations From Private Sources now includes on-behalf-of receipts from private sources.
5100 5100 Sales on Bonds was changed to Issuance of Bonds.
5120 5120 Premium on the Issuance of Bonds was changed to Premium or Discount on the Issuance of Bonds to include the discount on the issuance of bonds.
5130 5130 Accrued Interest was changed to Prepaid Interest.
5200 5200 Interfund Transfers was changed to Fund Transfers In.
5300 5300 Sales or Compensation for Loss of Fixed Assets was replaced by Proceeds From the Disposal of Real or Personal Property, which expanded this definition.
  5400 Loan Proceeds was added.
  5500 Capital Lease Proceeds was added.
5600   Lease Purchases was deleted.
  5600 Other Long-Term Debt Proceeds was added.
  6000 Other Income Items was added.
  6100 Capital Contributions (from donation or bequest) was added.
  6200 Amortization of Premium on Issuance of Bonds was added.
  6300 Special Items (unusual/infrequent items per GASB 34) was added.
  6400 Extraordinary Items (special items per GASB 34) was added.
 
Program Classification
1990 Code New Code Description
200 200 Special Programs classifications: Detailed program codes were deleted and the terminology was updated.
260 400 Bilingual programs for students for whom English is not their primary language was moved to program code 400, Other Instructional Programs-Elementary/Secondary.
300 300 Vocational and Technical Programs classifications: Detailed program codes were updated.
400 400 Other Instructional Programs: The general heading has been retained, but the detailed school-sponsored activities have been moved to program 900. Other instructional programs now include Bilingual-ESOL programs and Alternative Education Programs for at-risk students.
410 900 School-Sponsored Co-curricular Activities was moved and is now part of 900, Co-curricular and Extra-Curricular Activities.
420 900 School-Sponsored Athletics was moved and is now part of 900, Co-Curricular and Extra-curricular Activities.
800 800 Community Services Programs: Detailed program codes were deleted and the terminology was updated.
900   Enterprise Programs was deleted.
  900 Co-Curricular and Extra-curricular Activities was created.
 
Expenditure Function Classifications
1990 Codes New Code Description
2110 2110 Detailed account codes under Attendance and Social Work Services were deleted, and the services were included in the general Attendance and Social Work Services listing.
2120 2120 Detailed account codes under Guidance Services were deleted, and the services were included in the general Guidance Services listings.
2130 2130 Detailed account codes under Health Services were deleted, and the services were included in the general Health Services listings.
2140 2140 Detailed account codes under Psychological Services were deleted, and the services were included in the general Psychological Services listings.
2150 2150 Detailed account codes under Speech Pathology and Audiology Services were deleted, and the services were included in the general Speech Pathology and Audiology Services listings.
  2160 Occupational Therapy Related Services was added.
2200 2200 Support Services Instructional Staff was renamed Support Services-Instruction.
2213 2213 The definition of Instructional Staff Training Services was expanded.
2220 2220 Educational Media Services was renamed Library/Media Services, and the definition was modified to include only traditional library activities.
2224 2230 Educational Television was incorporated into the new function 2230, Instruction-Related Technology.
2225 2230 Computer-Assisted Instruction was incorporated into the new function 2230, Instruction-Related Technology.
  2230 Instruction-Related Technology was created. This function includes all technology-related classroom support.
  2240 Academic Student Assessment was added.
2310 2310 Detailed codes for the services listed under function 2310, Board of Education Services, were deleted; however, the list of services was retained. The definition was also expanded to include legal services.
2320 2320 Detailed account codes under function 2320, Executive Administration Services, were deleted. The categories are included in the general function 2320 description.
2500 2500 Functions 2500, Support Services-Business, and 2800, Central Services, were combined into 2500, Central Services.
2510 2510 Detailed account codes under function 2510, Fiscal Services, were deleted. The categories are included in the general function 2510 description.
2520 2520 Function 2520, Warehousing and Distributing Services, was combined in function 2520, Purchasing, Warehousing, and Distributing Services.
2530 2520 Function 2530, Warehousing and Distributing Services, was combined in function 2520, Purchasing, Warehousing, and Distributing Services
2535 2520 Function 2535, Warehouse Inventory Adjustment, was deleted, and these services are now accounted for under the general function 2520, Purchasing, Warehousing, and Distributing Services.
2540 2530 Printing, Publishing, and Duplicating Services
  2540 Planning, Research, Development, and Evaluation Services was created from function 2810.
  2560 Purchasing, Warehousing, and Distributing Services was created from function 2820 (including functions 2821, 2822, 2823, 2824, and 2829).
  2570 Staff Services was created from function 2830 (including functions 2831, 2832, 2834, 2835, and 2839).
  2580 Administrative Technology Services was created from function 2840, Data Processing Services (including sub-functions 2841, 2842, 2843, 2844, and 2849). The definition for the new function was expanded to include network support services, hardware maintenance and support services, and professional development costs for administrative technology personnel.
  2590 Renamed Other Support Services-Central Services.
2610 2600 Supervision of Operations and Maintenance of Plant was combined into the general function 2600 Operations and Maintenance of Plant.
2620 2610 Operation of Building Services
  2620 Maintenance of Buildings was added.
2660 2660 Function 2660, Security Services, was broken into function 2660, Security Services, and function 2670, Safety Services.
  2670 Safety Services (See 1990 function 2660 above.)
2710 2700 Supervision of Student Transportation Services Plant was combined into the general 2700 function, Student Transportation Services.
2720 2710 Vehicle Operation Services
2730 2720 Monitoring Services
2740 2730 Vehicle Servicing and Maintenance Services
2800 2500 Function 2800, Support Services-Central, was combined with 2500, Support Services-Business, to make 2500, Central Services.
2810 2540 Planning, Research, Development, and Evaluation Services
2820 2560 Information Services: Detailed account codes under function 2820, Information Services, were deleted. The categories are included in the general function 2560 description.
2830 2570 Staff Services: Detailed account codes under function 2830, Staff Services, were deleted. The categories are included in the general function 2570 description.
2840 2580 Data Processing Services definition was expanded and moved to 2580. Detailed account codes under function 2840 were deleted. The categories are included in the general function 2580 description.
4200 4200 Site Improvement Services were broken into 4200, Land Improvement, for permanent improvements to land and 4600, Site Improvement Services, for non-permanent improvements to building sites.
4600 4700 Building Improvements Services was moved to 4700.
5000 5000 Other Use was renamed Debt Services.
5100 5000 Debt Service was combined into a broader Debt Service function.
5200 5000 Fund Transfers were combined into a broader Debt Service function.
 
Object Classification
1990 Code New Code Description
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
  150 Additional Compensation such as Bonuses, or Incentive
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
240 250 Tuition Reimbursement
     
     
     
  240 On-Behalf Payments was added.
     
     
     
250 260 Unemployment Compensation
     
     
     
260 270 Workers' Compensation
     
     
     
270 280 Health Benefits
     
     
     
     
     
     
330 340 Other Professional Services
  330 Professional-Employee Training and Development Services was added.
340 350 Technical Services
  351 Data Processing and Coding Services
  352 Other Technical Services
411 410 Water/Sewage Services were combined in the general 410 Utility Services.
420 420 Detailed account codes under Cleaning Services (421, 422, 423, and 424) were deleted and the services were included in the general Cleaning Services listing.
  431 Non-Technology-Related Repairs and Maintenance was added.
  432 Technology-Related Repairs and Maintenance was added.
442 442 Rental of Equipment and Vehicles was modified to exclude computer equipment.
  443 Rental of Computers and Related Equipment was added.
450 450 Construction Services included construction, renovation, and remodeling of infrastructure.
530 530 Communications now includes Internet and other technology-related services and rentals.
  566 Tuition to Charter Schools was added.
  567 Tuition to School Districts for Voucher Payments was added.
590 590 Miscellaneous Purchased Services was renamed Intereducational, Interagency Purchased Services.
591   Services Purchased Locally was deleted.
592 591 Services Purchased From Another School District or Educational Services Agencies Within the State
593 592 Services Purchased From Another School District or Educational Service Agency Outside the State
610 610 General Supplies now includes computer software.
  650 Supplies-Technology-Related was added.
710 710 Land and Improvements: The restriction "Used with governmental funds only" was deleted.
730 730 Equipment. The restriction "Used with governmental funds only" has been deleted.
  734 Technology-Related Hardware was added.
  735 Technology-Related Software was added.
740 790 Depreciation was moved to 790, and the restriction "Used with governmental funds only" was deleted.
  740 Infrastructure (assets that have significantly longer useful lives than other capital assets) was added.
800 800 Other Object was renamed Debt Service and Miscellaneous.
830 832 Interest
  830 Debt-Related Expenditures/Expenses was added.
  833 Amortization of Bond Issuance and Other Debt-Related Costs was added.
  834 Amortization of Premium and Discount on Issuance of Bonds was added.
840   Contingency (for budgeting purposes only) was deleted.
900 900 Other Uses of Funds (governmental funds only) was renamed Other Items.
910 831 Redemption of Principal
920   Housing Authority Obligations was deleted.
930 910 Funds Transfers was moved to object 910 and renamed Fund Transfers Out.
940 920 Payments to Escrow Agents for Defeasance of Debt
  930 Losses From Investments was added.
  931 Realized Losses on Investments was added.
  931 Unrealized Losses on Investments was added.
  940 Losses on the Sale of Capital Assets was added.
  950 Special Items was added.
  960 Extraordinary Items was added.

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